John Perry (Sligo-North Leitrim, Fine Gael)

As regards the 250,000 small companies, however, spending in the domestic economy has dropped considerably. Many businesses that were viable are unfortunately not so now, which is the difficulty at the moment.

The temporary loan guarantee scheme has been designed to be rolled out and we are working decisively on it. We feel it is very important and will take some of the risk. It will not be a substitute for bank lending, but it will guarantee some sectors of the economy the possibility of getting money. It will certainly be rolled out by budget time.

The micro-finance fund is critically important as well and provides up to €25,000 for small and medium enterprises. From my own experience, I agree with the Deputy that it is disappointing that there is evidence to indicate that smaller companies are not getting loans.

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